Greece

Chronology of Coverage

Feb. 27, 2015

Paul Krugman Op-Ed column contends deal Greece reached with its creditors is overall success and has saved Greece from increased austerity and unreasonable creditor demands, despite rhetoric of failure that has followed deal; says that in ending austerity cycle, Greece has set example for Europe, which needs to recognize failure of its own austerity policies. MORE

Feb. 27, 2015

Greece, in exchange for extension of its bailout package, is targeting affluent tax evaders and remolding economic system in which tycoons control much and operate in dubious ways; bolstered tax collection is a start for what is envisioned as larger attempt to make Greece less corrupt. MORE

Feb. 25, 2015

Eurozone ministers and other creditors agree to extend Greece's bailout program for another four months, after accepting reform plan by Greek government; accord, however, does not solve country's perilous economic situation and postpones confronting many major issues. MORE

Feb. 25, 2015

Editorial assesses four-month extension agreed upon by Greek and European finance ministers, which will continue to provide Greece with much-needed money; suggests that deal will offer more time to design stimulus plan for the Greek economy that will allow country to remain in European Union; expresses hope that Greek Prime Min Alexis Tsipras will be better about delivering on his promises than previous governments. MORE

Feb. 24, 2015

Greece delays submission of its proposed reforms to receive bailout funds until day after deadline; country is negotiating with European creditors to ease austerity and overhaul its market. MORE

Feb. 23, 2015

Greek's new government leaders rush to gather proposed changes to country's austerity program that creditors will accept as deadline looms; move is considered step down for dominant radical-left Syriza party, which had promised to scrap current bailout program. MORE

Feb. 23, 2015

Police use tear gas in attempt to disperse unruly fans at Greek Super League derby between Panathinaikos and Olympiakos; other soccer news noted. MORE

Feb. 22, 2015

News analysis; deal that preserves Greece's place in eurozone also commits nation to fiscal targets and other conditions that Prime Min Alexis Tsipras has rejected. MORE

Feb. 21, 2015

European leaders agree to four-month extension of Greek bailout, allowing country to avoid bankruptcy and its attendant destabilizing consequences for region; agreement stipulates that Greece will not receive 240 billion euros in funds unless it meets certain conditions, raising possibility of further negotiations. MORE

Feb. 21, 2015

Paul B Kazarian, one of the largest holders of Greek government bonds, has been engaged in all-out effort to convince investors and European government officials that Greece's debt load is not as dauntingly large as it appears, largely due to low interest rates; Kazarian is a mystery to others in world of Greek bond investors. MORE

Feb. 20, 2015

Germany rejects request by Greece to extend its loan program, sending country spiraling toward possible insolvency in week's time; new Greek government faces another round of stressful negotiations with eurozone finance ministers. MORE

Feb. 19, 2015

Greek officials will propose to eurozone finance ministers four-month extension to its current bailout program; proposal will not include commitment to honor memo underlying loan program, which many Greeks object to; it is unclear whether eurozone officials will find proposal acceptable until it is formally submitted. MORE

Feb. 19, 2015

European Central Bank and its president Mario Draghi may be ultimate arbiters of fate of showdown between European Union and Greece over country's debt; bank's Governing Council must decide whether to help Greek banks stay solvent, decision that could be seen as general verdict on whether country's government can avoid collapse and whether country will remain part of EU. MORE

Feb. 18, 2015

Editorial warns that only good option eurozone finance ministers have is to allow Greece a little leeway in debt negotiations, particularly given that Greek default and resultant chaos in euro system is distinct possibility; urges Greece's lenders, particularly Germany, to consider proposals made by Greek Prime Min Alexis Tsipras and Finance Min Yanis Varoufakis. MORE

Feb. 18, 2015

Greek government of Prime Min Alexis Tsipras, fighting desperately to reduce austerity measures, face longer-term issues that could continue to hobble recovery despite outcome of battle; end of austerity alone would likely not be enough to restore country's fortunes; business owners and others cite nation's byzantine bureaucracy as a primary challenge. MORE

Feb. 18, 2015

TheUpshot; dramatic reversals amid negotiations over future of Greek sovereign debt recall similar turmoil in Europe in years 2010 through 2012; market activity seems to indicate optimism crisis will be averted, as it was before; data, however, also suggests widely held opinion Europe has true longterm macroeconomic problem in terms of its shared currency and vast economic differences between its northern and southern constituents. MORE

Feb. 17, 2015

Meeting with Greece over its debt results in ultimatum by European creditors to proceed with bailout program or risk losing critical funding needed to avoid default; demand seems to entail part of plan to persuade Greek Prime Min Alexis Tspiras and Finance Min Yanis Varoufakis to back off from anti-austerity stance. MORE

Feb. 16, 2015

Paul Krugman Op-Ed column contends that austerity advocates who compare Greece's economic woes to Germany's hyperinflation following World War I are guilty of selectively remembering history; notes that Germany experienced worse economic and political devastation in 1930s due to Allied forces' demands for reparations; holds that Greece's creditors will worsen situation by insisting on stringent measures. MORE

Feb. 12, 2015

All sides in the negotiations on Greek debt are firm in the belief that the others will blink first. MORE

Feb. 12, 2015

Eurozone finance ministers exit emergency meeting with Greek Finance Min Yanis Varoufakis without resolving deep differences over country's bailout, terms of which government of new Prime Min Alexis Tsipras has rejected. MORE

Feb. 10, 2015

Greece will propose compromise plan over its debt at meeting with creditors in Brussels; plan will include taking part of bailout loan of 7 billion euros, or $7.9 billion. MORE

Feb. 9, 2015

Greek Prime Min Alexis Tsipras says his government will not extend bailout program with creditors, and will make good on promises to roll back austerity measures, albeit gradually; country faces increasing pressure to reach deal with international creditors and assuage worries it will default on its massive debt. MORE

Feb. 8, 2015

Many patients at Greek hospitals must resort to employing illegal nurses, many of whom are untrained immigrants, as austerity measures have gutted health care system and thinned ranks of qualified nurses; nurses are but one hospital amenity that can be rented by patients and their families, and indicate both the way Greek's black-market economy functions and how decline in living standards spurred anti-austerity Syriza Party to victory. MORE

Feb. 7, 2015

Standard & Poor's decision to cut Greece's credit rating to B- and its warning of country's possible exit from eurozone increases pressure on new government of Prime Min Alexis Tsipras to reach deal with country's creditors. MORE

Feb. 6, 2015

Paul Krugman Op-Ed column compares standoff between Germany and Greece over Greek government's debt to game of chicken, in which both participants threaten one another while barreling toward disaster; says moment is approaching when European Central Bank and Europe must decide whether to cut off Greece, precipitating chaos; offers hope that bank will refuse to make such an enormously risky move. MORE

Feb. 6, 2015

Greek Finance Min Yanis Varoufakis meets with German Finance Min Wolfgang Schauble, but hits impasse over renegotiating Greece's debt; Schauble is seen as Europe's main enforcer of austerity policy, and stark gulf between two puts Greece's need for financial aid in peril. MORE

Feb. 5, 2015

Panel of Greek judges rules that leader of far-right Golden Dawn party and 17 other party lawmakers will stand trial on charges including murder, assault and participation in criminal organization; party members are among larger group of defendants sympathetic to group's aims. MORE

Feb. 5, 2015

Guerrilla organization the Group of Popular Rebels claims responsibility for December shooting at Israeli embassy in Athens. MORE

Feb. 5, 2015

European Central Bank says it will not accept Greek government bonds as collateral for loans due to lack of confidence that country will meet its bailout requirements, indication that bank is taking hard line against newly elected anti-austerity government; decision comes after first meeting between Prime Min Alexis Tsipras and Finance Min Yanis Varoufakis with ECB officials since elections. MORE

Feb. 5, 2015

Greek Prime Min Alexis Tsipras has gained notoriety for eschewing neck tie, act that public has come to associate with independent thinking and renewal. MORE

Feb. 4, 2015

For all the opposition to debt forgiveness, the notion has resurfaced as the new government in Athens, facing a cash squeeze, looks for ways to reduce what it owes. MORE

Feb. 4, 2015

Greek Prime Min Alexis Tsipras and new Finance Min Yanis Varoufakis look to European nations for support in negotiations on Greece's bailout, while turning heads at the same time for making fashion statements in their lack of neckties; their road show seems politically shrewd, with early stops in nations apparently more willing to help Greece. MORE

Feb. 2, 2015

French Finance Min Michel Sapin says country is ready to support Greece, but it will not forgive debt; urges country to continue with economic reforms. MORE

Feb. 1, 2015

As depositors yank their savings from Greek banks, the question is being asked if the E.C.B. would bail them out again. MORE

Jan. 31, 2015

Greece's new Finance Min Yanis Varoufakis says Greece will not seek extension to its bailout program and will not cooperate with auditors. MORE

Jan. 30, 2015

Greece endorses six-month extension of sanctions against Russia, allaying fears that election victory of left-wing party would undermine Europe's efforts to pressure Russia over its actions toward Ukraine. MORE

Jan. 30, 2015

Paul Krugman Op-Ed column submits events in Greece challenge Europe to move past inaccurate and moralizing views of Greece's role in euro crisis and to look at situation in more realistic and productive way; holds Greece has gained little benefit from loans and cannot afford to repay them, and that to expect repayment is to inflict endless suffering and risk country's withdrawal from euro; urges Europe to cut some losses in order to preserve greater health of system. MORE

Jan. 30, 2015

Greece's Finance Min Yanis Varoufakis, staunch critic of austerity policies, is toning down his message ahead of debt relief negotiations with creditors and is striking more moderate stance; says country is not seeking confrontation and does not want 7 billion euro loan to pay off debts due by August. MORE

Jan. 29, 2015

Investors react badly to election in Greece of new leftist-led government and Prime Min Alexis Tispras; Athens Stock Exchange drops 9.2 percent after previous decline of 11 percent; episode drives up borrowing costs, while shares in Greek banks drop by almost 27 percent and yield on 10-year government bonds spikes to about 10.1 percent. MORE

Jan. 28, 2015

Greek Prime Min Alexis Tsipras's new cabinet includes many members of his radical-left Syriza party, and among them is economist Yanis Varoufakis. MORE

Jan. 27, 2015

Victory of Alexis Tsipras and his left-wing Syriza party in Greek elections is taken as both sign of Greek electorate's antipathy toward austerity policies and rejection of status quo that has allowed fringe parties on both right and left across Europe to become ascendant; Tsipras, who allied with center-right party Independent Greeks, has received praise from far-right leaders across Europe, underscoring power and breadth of anti-austerity message. MORE

Jan. 27, 2015

Win for Alexis Tsipras and his left-wing party Syriza in Greek elections underscores central tension within European Union when different countries in bloc have conflicting desires; Greece's voters oppose austerity favored by those in Germany, Finland and the Netherlands, and reconciling these opposing views is challenging task faced by eurozone finance ministers as they meet in Brussels. MORE

Jan. 27, 2015

Editorial calls on Germany and other European nations to heed message sent by Greek elections, namely that nation will no longer endure disastrous austerity measures that have been imposed on it; urges European Union to extend bailout program that is set to expire in February as a token of good faith. MORE

Jan. 27, 2015

Greek Prime Min Alexis Tsipras faces tough hurdles in his quest to renegotiate country's bailout loans and cut its huge debt, with international creditors looming; new coalition government needs its next bailout loan of 7 billion euros soon. MORE

Jan. 26, 2015

Left-wing Syriza party wins decisive victory in national Greek elections, positioning Alexis Tsipras to become country's next prime minister; wide margin amounts to forceful rejection of European Union's austerity measures, which Tsipras has vowed to resist, and strongest showing yet amid populist backlash that has spread across Continent. MORE

Jan. 26, 2015

Paul Krugman Op-Ed column calls on European officials to negotiate in good faith with Alexis Tsipras, likely the next Greek prime minister, and his victorious Syriza party; maintains officials should refrain from lecturing Tsipras on fiscal responsibility, saying they lost all credibility by imposing an unrealistic and catastrophic course of austerity measures on his country. MORE

Jan. 24, 2015

Polls indicate that many Greeks are inclined to vote for leftist firebrand Alexis Tsipras despite his relative inexperience and warnings from European officials; support for Tsipras is blooming amid climate of fear, which has been stoked by incumbent party of Prim Min Antonis Samaras, and speaks to desperation of voters who are fed up with country's situation. MORE

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